Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

value 10.00 polnts University Food Systems Inc. has issued a 40 percent stock dividend. The company has 862,000 common shares authorized and 255,000 shares issued

image text in transcribed
value 10.00 polnts University Food Systems Inc. has issued a 40 percent stock dividend. The company has 862,000 common shares authorized and 255,000 shares issued and outstanding. The common shares account had a balance of $2,805,000 on the date of declaration of the stock dividend, and the market value was $14 per share. Prepare the journal entry for the issuance of this stock dividend. (If no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Nike Inc Strategic Audit SWOT Pestle Competitor And Financial Analysis

Authors: Bankim Chandra Pandey

1st Edition

1973352516, 978-1973352518

More Books

Students also viewed these Accounting questions

Question

Make your illustrations vivid and specific.

Answered: 1 week ago

Question

Describe a persuasive message.

Answered: 1 week ago

Question

Identify and use the five steps for conducting research.

Answered: 1 week ago

Question

List the goals of a persuasive message.

Answered: 1 week ago